UBS Group Has Lowered Expectations for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its target price reduced by stock analysts at UBS Group from $4.75 to $4.50 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would suggest a potential upside of 8.43% from the company’s current price.

Several other equities analysts have also commented on the company. Wedbush reissued a “neutral” rating and set a $6.00 price target (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods reduced their price target on Ready Capital from $4.00 to $3.75 and set an “underperform” rating on the stock in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.96.

Ready Capital Stock Up 0.2%

RC opened at $4.15 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a market cap of $707.60 million, a P/E ratio of -5.93 and a beta of 1.45. Ready Capital has a 52 week low of $3.93 and a 52 week high of $9.54. The business’s fifty day simple moving average is $4.59 and its 200 day simple moving average is $6.02.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%. The business had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. As a group, equities research analysts anticipate that Ready Capital will post 0.93 EPS for the current fiscal year.

Insider Transactions at Ready Capital

In other news, CEO Thomas E. Capasse bought 10,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $4.80 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now directly owns 319,925 shares in the company, valued at approximately $1,535,640. This trade represents a 3.23% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Institutional Trading of Ready Capital

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Ready Capital by 21.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after purchasing an additional 398,005 shares during the period. Barclays PLC boosted its stake in Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after purchasing an additional 326,467 shares during the period. Vanguard Group Inc. boosted its stake in Ready Capital by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock valued at $77,522,000 after purchasing an additional 768,891 shares during the period. GraniteShares Advisors LLC bought a new stake in Ready Capital during the 4th quarter valued at approximately $2,480,000. Finally, Raymond James Financial Inc. bought a new stake in Ready Capital during the 4th quarter valued at approximately $1,839,000. Institutional investors own 55.87% of the company’s stock.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.